Business
ASX set to bounce higher on back of Wall Street surge – Sydney Morning Herald
The Australian sharemarket is poised to jump higher on Monday as Wall Street closed its week at record levels.
The yield on the 10-year Treasury rose to 1.67 per cent from 1.61 per cent late Thursday. But thats still below where it was last week, when it rose above 1.70 per cent and touched its highest level since before the pandemic began.
A report on Friday also showed that a gauge of inflation that the Federal Reserve likes to use was weaker last month than economists expected. That took off some of the pressure of inflation worries in the near term.
The higher yields helped lift stocks of banks, in part…
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